Reports
Sale
Global Business Travel Market Size, Share, Trends, Forecast: By Service: Transportation, Food and Lodging, Recreation; By Industry: Government, Corporate, Others; By Traveller: Group, Solo, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Regional Analysis; Competitive Landscape; 2024-2032
Global Business Travel Market Outlook
The global business travel market size reached a value of approximately USD 915.57 billion in 2023. The market is further projected to grow at a CAGR of 12% between 2024 and 2032, reaching a value of USD 2,538.94 billion by 2032.
Key Trends in the Market
Business travel refers to travelling activities undertaken for business- or work-related purposes. The various types of business travel include travelling to different locations to meet business partners and suppliers, travelling to a different branch of the company, or travelling for business and conference events.
- Increasing popularity of bleisure travel is a key trend propelling the growth of the global business travel market. The business travelling demographic often engages in leisure activities and participates in sight seeing. Engaging in such activities improves work efficiency and relieves stress and also provides travellers novel experience and opportunities to explore new destinations.
- Rising developments in travel and tourism sector and increasing presence of small and medium sized enterprises along with rapid globalisation have resulted in an increase in number of business travellers.
- Growing popularity of alternative accommodation facilities including Airbnb and home stays, among others due to unique customer experience, flexibility, and cost savings offered by them is further aiding the global business travel market expansion.
Market Analysis
On the basis of service, the market is divided into transportation, food and lodging, and recreation. Based on industry, the market is segregated into government and corporate, among others. By traveller, the market is classified into group and solo, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global business travel market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Airbnb Inc.
- GBT Travel Services UK Limited
- BCD Group
- Booking Holdings Inc.
- CWT Global B.V.
- Corporate Travel Management Limited
- Expedia Group, Inc.
- Fareportal, Inc.
- Flight Centre Travel Group Ltd.
- Wexas Ltd.
- Others
Market Share by Service
The food and lodging segment is expected to witness significant growth over the forecast period. This growth can be attributed to the increasing availability of affordable hotel and guest houses and growing popularity of online booking. Increasing demand for hygienic food and convenient lodgings and increasing penetration of Airbnb and home stays is further aiding the segment growth. The business travel market expansion is further being aided by the increasing frequency of domestic and international business trips for attending conferences and meeting clients, among others.
Market Share by Region
The Asia Pacific is anticipated to account for a significant portion of the market in the coming years. This is due to the increasing government initiatives and policies to attract foreign investments, rapid infrastructural development, and availability of various sources such as skilled workforce to support business development. Increasing awareness about the various advantages associated with business travel such as exposure to newer environments and work culture and development of decision making and leadership skills is further aiding the business travel market growth in the region.
Competitive Landscape
Airbnb, Inc. was founded in 2007 and is based in California, United States. The company operates an online marketplace for long- and short-term homestays. Their unique experiences enable guests to connect with communities in an authentic manner.
BCD Group is a global corporate travel management company that was founded in 1975 and is headquartered in Utrecht, Netherlands. The company is known for providing support, advice, and travel services, including off-airport parking.
Expedia Group, Inc. is a technology, information, and internet company that was established in 1996 and is headquartered in Washington, United States. Their specialities include hospitality, travel, airfare, and business development, among others.
Other market players include GBT Travel Services UK Limited, Booking Holdings Inc., CWT Global B.V., Corporate Travel Management Limited, Fareportal, Inc., Flight Centre Travel Group Ltd., and Wexas Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Service |
|
| Breakup by Industry |
|
| Breakup by Traveller |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Business Travel Market Analysis
8.1 Key Industry Highlights
8.2 Global Business Travel Historical Market (2018-2023)
8.3 Global Business Travel Market Forecast (2024-2032)
8.4 Global Business Travel Market by Service
8.4.1 Transportation
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Food and Lodging
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Recreation
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Business Travel Market by Industry
8.5.1 Government
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Corporate
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Business Travel Market by Traveller
8.6.1 Group
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Solo
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Business Travel Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Business Travel Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Business Travel Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Business Travel Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Business Travel Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Business Travel Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Airbnb Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 GBT Travel Services UK Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BCD Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Booking Holdings Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 CWT Global B.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Corporate Travel Management Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Expedia Group, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Fareportal, Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Flight Centre Travel Group Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Wexas Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Business Travel Market: Key Industry Highlights, 2018 and 2032
2. Global Business Travel Historical Market: Breakup by Service (USD Billion), 2018-2023
3. Global Business Travel Market Forecast: Breakup by Service (USD Billion), 2024-2032
4. Global Business Travel Historical Market: Breakup by Industry (USD Billion), 2018-2023
5. Global Business Travel Market Forecast: Breakup by Industry (USD Billion), 2024-2032
6. Global Business Travel Historical Market: Breakup by Traveler Type (USD Billion), 2018-2023
7. Global Business Travel Market Forecast: Breakup by Traveler Type (USD Billion), 2024-2032
8. Global Business Travel Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Business Travel Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Business Travel Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Business Travel Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Business Travel Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Business Travel Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Business Travel Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Business Travel Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Business Travel Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 915.57 billion in 2023.
The market is projected to grow at a CAGR of 12% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2,538.94 billion by 2032.
The major market drivers include growing requirement for business travel for brand and product promotion and rising adoption of green transportation and sustainable accommodations.
The key trends fuelling the growth of the market include increasing popularity of bleisure travel, development of the travel and tourism sector, and growing popularity of Airbnb and home stays.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various services available in the market include transportation, food and lodging, and recreation.
The key players in the business travel market are Airbnb Inc., GBT Travel Services UK Limited, BCD Group, Booking Holdings Inc., CWT Global B.V., Corporate Travel Management Limited, Expedia Group, Inc., Fareportal, Inc., Flight Centre Travel Group Ltd., and Wexas Ltd., among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER